Finance
Axel Springer confirms participation in new Telegraph bid from Dovid Efune
Published by Global Banking & Finance Review®
Posted on February 20, 2026
2 min readLast updated: February 20, 2026
Quick Summary
FT says Axel Springer is backing Dovid Efune’s £500m consortium for Telegraph Media Group, a fallback if DMGT’s deal hits regulatory hurdles. Reuters has not independently verified the report.
Feb 20 (Reuters) - Axel Springer will back a consortium led by Dovid Efune in a 500 million pound ($673.95 million) bid for the Telegraph Media Group, a company spokesperson told Reuters on Friday.
DMGT had struck a 500 million pound deal to buy the Telegraph in November, in a tie-up that would create one of the most powerful right-leaning media groups in Britain.
The UK had launched a formal regulatory probe into DMGT's proposed acquisition of the Telegraph last week, saying the deal raises public interest and competition concerns.
The Financial Times, which first reported Axel Springer's backing, said the consortium had sent a letter to seller RedBird IMI this week outlining a new offer it deems superior to the bid by Lord Rothermere's group.
The offer includes 400 million pounds in cash initially and a further 100 million pounds over two years, the report added.
The New York Sun's owner bid is roughly the same total amount as what DMGT offered but with more cash upfront, the report said citing a person close to the situation.
Axel Springer declined to comment further on the details of its participation.
Telegraph and RedBird did not immediately respond to Reuters' requests for comment.
DMGT's bid, if approved, would bring the Daily Telegraph and Sunday Telegraph newspapers under the same umbrella as the Daily Mail, Mail on Sunday, Metro and The i Paper.
($1 = 0.7420 pounds)
(Reporting by Yamini Kalia with additional reporting by Sri Hari N S in Bengaluru; Editing by Krishna Chandra Eluri)
Key Takeaways
- •Axel Springer is backing a Dovid Efune-led consortium bidding about £500m for Telegraph Media Group.
- •The offer is positioned as an alternative if DMGT’s agreed deal encounters regulatory hurdles.
- •UK regulators are reviewing DMGT’s proposed acquisition on competition and media plurality grounds.
- •The Financial Times reported the new backing; Reuters has not independently verified it.
- •The bidding battle underscores ongoing consolidation and scrutiny in UK media assets.
Frequently Asked Questions about Axel Springer confirms participation in new Telegraph bid from Dovid Efune
1What is the main topic?
Axel Springer is backing a Dovid Efune-led £500m bid for Telegraph Media Group, reported by the Financial Times, potentially challenging DMGT’s pending deal.
2Why does the bid matter now?
DMGT’s agreed takeover is under regulatory review in the UK. The Efune consortium presents a ready alternative if that deal is delayed or blocked.
3Who are the key parties involved?
The bid is led by Dovid Efune with new backing from Axel Springer. The incumbent buyer is DMGT, while UK regulators are assessing the DMGT deal.
